Creating “The Tax Efficiency Act of 2026”

The header metadata was updated to reflect the bill's progression through the legislative process, changing the title from 'Committee Substitute' to 'Engrossed Version' and reordering the list of available versions to place the final 'Enrolled Version' at the top.

A minor punctuation adjustment was made in the committee origin line, changing the date format from 'February 26, 2026' to '; February 26, 2026'.

The effective date changed from an immediate start on July 1, 2026, to a delayed start of July 1 following a 12-month period once a $30 million revenue threshold is reached.

A new 1% administrative fee on gross tax collections was added to fund the system, with proceeds going to the Tax Administration Services Fund.

The requirement for municipalities to use the system was removed; participation is now optional and contingent on the Tax Commissioner meeting specific revenue and participation thresholds.

New definitions were added to clarify that the 'System' is a new electronic platform designed by the Tax Commissioner, distinct from the existing statewide property tax network.

The Tax Commissioner's role was redefined to focus on system design and optional administration, while retaining full legal authority for audits and collections with the municipalities.